Insider Business International hotel brands in Cyprus on the rise

International hotel brands in Cyprus on the rise

Over recent years, international hotel brands in Cyprus are on the rise as more and more hotel companies opt for some of their establishments to carry an internationally recognised name, even if this involves additional costs.

A more recent example is Parklane, a Luxury Collection Resort & Spa in Limassol. The former Le Meridien on the coastal front of Limassol underwent complete refurbishment costing some 70 million euros and at the same time changed its name to Parklane.

The first Radisson Blu hotel operated last year in the city of Larnaca. And following a development agreement with Sunnyseeker Hotels it has been announced that it will expand its brand in Cyprus with six more hotels with a capacity of 1,000 rooms by 2025.

Sentido hotels which belong to the Leonardo Hotels group is another international brand operating in Cyprus. Under the brand are Sentido Cypria Bay and Sentido Thalassa Coral Bay in Paphos as well as Sentido Sandy Beach in Larnaca.

For Hilton Cyprus, latest information indicates that the capital’s five-star hotel may stop operating under this brand name. Following an agreement last month for the acquisition of 96.82% of the shares of the owner company, the hotel will be transferred to the hands of NBG Pangaea and Invel Real Estate.

Hilton Park Nicosia in the suburb of Engomi which is also under the Hilton brand has recently undergone its first stage of refurbishment and recently gained a star. Following this development, the now five-star hotel has secured the ‘Hilton’ brand for the next ten years.

The former Holiday Inn, located in the heart of old Nicosia, is also in the hands of NBG Pangaea since the summer of 2018. Pangaea’s goal is the complete renovation of the building, estimated to cost some €4-5 million. The company had announced that it will then lease the hotel to Zeus International to operate under the name of Windham.

Crowne Plaza in Limassol also carries an international hotel brand.

Read more:

https://in-cyprus.com/cyprus-banks-are-betting-on-hotels/

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